The Petroleum Industry Bill 2020 has passed first reading on the floor of the Senate.
The bill was read for the first time during plenary on Wednesday by Senator Yahaya Abdullahi, the Senate Majority Leader, two weeks after it was submitted by President Muhammadu Buhari.
Senator Ahmad Lawan, the Senate President; and Femi Gbajabiamila, Speaker of the House of Representatives, had during a National Assembly joint leadership meeting on the PIB with the Minister of State for Petroleum, Timpre Sylva, on Monday confirmed that the PIB was transmitted to the federal parliament two weeks ago.
The National Assembly leaders pledged to accelerate the passage of the bill, but vowed to ensure thoroughness in its consideration, which according to the principal officers, would be treated simultaneously with the 2021 national budget.
According to Lawan, both chambers of the National Assembly would forward the documents to their respective committees for further legislative actions as soon as Buhari’s covering letter, which accompanied the bill, was read to the lawmakers.